Member countries of the Eurosystem agree to:
A. pursue independent domestic monetary policies based on what is best for their own country, but not all member countries have adopted the euro as their currency.
B. share a common monetary policy and use the euro as their currency.
C. use the euro as their currency, but each country still pursues an independent monetary policy.
D. share a common monetary policy and fiscal policy.
Answer: B
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When a rare skill contributes to the production of something that consumers value highly the:
A. value of the marginal product is high. B. marginal product is high. C. marginal cost per unit is low. D. total product is high.
Economics is the study of
a. how to start a business b. how to make money in stocks, bonds, and real estate c. choice under conditions of abundance d. choice under conditions of scarcity e. multinational business
What might cause a demand curve to shift to the right?
A. An increase in the product's own price B. A decrease in the price of a substitute C. An increase in the price of a complement D. An increase in the price of a substitute
Market-oriented solutions to externalities rarely work.
A. True B. False C. Uncertain